A lack of new experimental drugs and patent expiries will further drive merger and acquisitions in the pharmaceuticals sector, the chief executive of U.S. drugmaker Eli Lilly said on Tuesday.
"Consolidation will probably continue for the same bad reasons as before," Sidney Taurel said, citing weak pipelines and drugs losing their patent protection, either because patents expire or because they are challenged by generic drugmakers.
"We do not think that big M&A creates value," he told reporters during a Paris visit.
Big takeovers, Taurel said, offered short-term solutions in joining drug pipelines and yielding cost savings, but failed to tackle a more fundamental problem in the industry -- its struggle to discover new drugs.
Insider's view: way to go Sid! Why were you in Paris, home of Sanofi Aventis, I wonder?
Reuters
1 comment:
Well said,i applaud your blog, mental health consumers are the least capable of self advocacy,my doctors made me take zyprexa for 4 years which was ineffective for my symptoms.I now have a victims support page against Eli Lilly for it's Zyprexa product causing my diabetes.--Daniel Haszard www.zyprexa-victims.com
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